JPMorgan Chase & Co. Has $20.81 Million Holdings in Cadence Bank (NYSE:CADE)

JPMorgan Chase & Co. grew its position in Cadence Bank (NYSE:CADE - Free Report) by 46.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 604,097 shares of the company's stock after acquiring an additional 190,981 shares during the quarter. JPMorgan Chase & Co. owned 0.33% of Cadence Bank worth $20,811,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Cadence Bank by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company's stock valued at $138,974,000 after purchasing an additional 39,679 shares during the period. Stifel Financial Corp boosted its stake in Cadence Bank by 18.1% in the 3rd quarter. Stifel Financial Corp now owns 21,034 shares of the company's stock valued at $670,000 after buying an additional 3,218 shares in the last quarter. Victory Capital Management Inc. raised its stake in Cadence Bank by 1.4% during the fourth quarter. Victory Capital Management Inc. now owns 50,453 shares of the company's stock worth $1,738,000 after acquiring an additional 685 shares in the last quarter. Franklin Resources Inc. bought a new position in Cadence Bank during the 3rd quarter valued at about $947,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Cadence Bank by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,254,795 shares of the company's stock valued at $77,678,000 after buying an additional 12,309 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CADE. Royal Bank of Canada reiterated a "sector perform" rating and issued a $38.00 target price on shares of Cadence Bank in a research note on Friday, January 24th. Stephens reissued an "overweight" rating and issued a $42.00 price objective on shares of Cadence Bank in a research note on Thursday, January 23rd. Barclays lowered their target price on Cadence Bank from $44.00 to $38.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley decreased their price objective on shares of Cadence Bank from $46.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Hovde Group dropped their target price on shares of Cadence Bank from $40.00 to $35.00 and set a "market perform" rating for the company in a research note on Wednesday, April 2nd. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $38.09.

Cadence Bank Trading Up 1.9 %

Shares of NYSE:CADE traded up $0.53 during trading on Tuesday, hitting $27.98. 515,949 shares of the company were exchanged, compared to its average volume of 1,263,402. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $40.20. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 10.10 and a beta of 0.87. The firm has a fifty day moving average price of $31.04 and a two-hundred day moving average price of $33.69.

Cadence Bank (NYSE:CADE - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same quarter last year, the firm posted $0.40 EPS. As a group, research analysts predict that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.275 dividend. This is an increase from Cadence Bank's previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.93%. Cadence Bank's dividend payout ratio is presently 39.71%.

Cadence Bank Profile

Cadence Bank provides commercial banking and financial services. Its products and services include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized and asset-based lending, commercial real estate, equipment financing, and correspondent banking services.